An analysis of the attempt to improve economic relationships between these two countries since the end of the war in 1975.
This paper looks at how after the Vietnam war ended, the United States wished to invest in the Vietnamese economy in order to get it out of its ten-year stagnation following the war. The writer examines various forms of aid, laws and committees which have been established to normalize relationships between Washington and Hanoi.
“Vietnam’s economy stagnated for 10 years after the war ended in 1975. In 1986, the Sixth Party Congress approved a broad economic reform package called Doi Moi or renovation that was geared to dramatically alter and improve Vietnam’s business climate, both at home and abroad.
“Vietnam became one of the fastest-growing economies in the world, averaging around 8 percent annual GDP growth from 1990 to 1997.” (Bureau of Public Affairs) Vietnam’s inflation rate stood at an annual rate of more than 300 percent in 1987 and fell below 4 percent in 1997. Investments and domestic savings grew and agricultural production doubled which led to the country being the second largest exporter of rice in the world.”